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USD/CHF .9570 of Interest as Support if Reached

USD/CHF .9570 of Interest as Support if Reached

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CHF .9570 of Interest as Support if Reached

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“USDCHF has traded into median line support and former congestion (.9300-.9430). Start looking higher again. .9580 is resistance within the range and .9400/30 is support. A target level in the event of a new high is .9750.”

-“The high so far is .9740. 5 waves up at multiple degrees of trend warns of a countertrend move (lower).” The market has pulled back but a corrective decline could near .9570.

--Tradingideas are availabletoJ.S. Trade Desk members.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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